Naperville Estate, Trust, and Guardianship Administration Attorneys
If someone has passed away and you are responsible for estate administration, you may not know what to expect. The same may be true if you are involved in guardianship or trust administration. These activities can be stressful and confusing. If you find yourself in the position of needing to administer an estate, trust, or guardianship, we can help you through the process and assist you with critical decision making.
Throughout the years, Peck Ritchey, LLC attorneys have handled countless administration issues for our clients. When you speak with one of our Naperville estate, trust, and guardianship administration attorneys about the necessary actions you should take in your matter, you will be better prepared to handle the responsibility entrusted to you. Contact us at (855) 328-5787 or fill out our online contact form to schedule a free, confidential consultation with one of our experienced attorneys
Do I Need an Estate, Trust, and Guardianship Administration Lawyer?
As an estate, trust, or guardianship administrator, you are accountable for ensuring that specific tasks are completed by certain times. Being knowledgeable of the responsibilities and actions that must be taken in each case is critical.
Estate and trust administration involves complicated legal issues, including inheritance laws and specific duties of the administrator. An attorney with experience in estate, trust, and guardianship administration is invaluable when it comes to making sure the administration is carried out appropriately. Peck Ritchey, LLC can help you navigate the complexities of your role as an administrator.
Why Choose Peck Ritchey, LLC to Handle My Administration Needs?
In the Naperville area, experienced attorneys from Peck Ritchey, LLC can answer your questions and assist you in going through the steps of an estate, trust, or guardianship administration. With over 100 years of combined experience, we know what it will take to help you with your administration needs.
The attorneys at Peck Ritchey, LLC are focused on efficiently providing results. We are known for our professional and courteous attention to detail in every case. Peck Ritchey, LLC attorneys have the knowledge necessary to handle your case from beginning to end. We will always put the client first and use our experience in estate, trust, and guardianship administration cases to professionally serve you. Our success on behalf of our clients has won us numerous awards and accolades, including a perfect 10 rating on Avvo and the title of Super Lawyers.
Types of Cases We Handle
Our firm represents clients who need assistance with any kind of estate or trust matter, including the following:
- Decedent Estates: When a person passes, particularly someone without an estate plan, administration of the estate is a process requiring particular attention to detail. We can assist with the required accounting or disputes that may arise.
- Guardianship Estates: These are managed for minor and disabled adults and require continual administration.
- Revocable Living Trusts: This type of trust sets aside assets that are managed by a trustee for the benefit of your named beneficiary. Trust control remains with the creator, and this type of trust can be modified if the beneficiaries provide consent.
- Irrevocable Living Trusts: This kind of trust generally cannot be modified or terminated. The person creating the trust gives up complete control. Irrevocable trusts offer tax advantages that revocable trusts do not.
- Testamentary Trusts: Created through a will, this trust can be used to leave assets to beneficiaries but provides that a trustee will manage the assets instead of giving direct control to the beneficiaries.
- Special Needs Trusts: This type of trust is used to set aside assets for a beneficiary who receives disability or supplemental Social Security benefits.
If you need help with these or another kind of trust, contact Peck Ritchey, LLC for help.
Frequently Asked Questions About Estate, Trust and Guardianship Administration
As an estate, trust, or guardianship administrator, you may have questions about the process and your role in it. The following are answers to some frequently asked questions. For answers to the specifics of your situation, contact us today at (855) 328-5787 to schedule a free, confidential consultation.
What is probate?
Probate refers to the activities of the probate division of the court. In Illinois, the probate division handles matters dealing with estates, trusts, and guardianships. For example, when a person dies, the probate court oversees the administration of the estate in formal proceedings if it is large enough.
Does every estate have to be probated?
No. In Illinois, probate is usually necessary only when the total value of the decedent’s personal assets (not including real property) is valued at $100,000 or more. Real property that is owned solely by the decedent must typically go through probate.
Who is responsible for making sure the assets of a decedent are distributed?
The administration of an estate is carried out by a personal representative. This is either a person named in a will, an executor, a person appointed by the court, or an estate administrator.
What is intestacy?
Intestacy occurs when a person does not have either a will or a trust to instruct others how to distribute their assets at death. Illinois law specifies where the property of an intestate decedent will go.
Who administers the estate when there is no will?
When someone dies without a will, the estate is administered by an estate administrator who is determined based on Illinois intestacy laws. The laws provide an order of preference to decide who should be the estate administrator or who should have the opportunity to nominate an administrator. The order of preference to serve or designate begins with the surviving spouse, if any. The next in line would be beneficiaries under the will, with a preference for children of the decedent. The next order of choice would be grandchildren, followed by siblings. When two or more individuals with equal standing in the order of preference wish to serve as administrator, the probate judge will name the person who will serve.
Is a personal representative entitled to compensation?
Yes. A personal representative, whether an executor or an administrator, is entitled to receive reasonable compensation. What is considered a “reasonable” fee depends on the circumstances of the case and should be discussed with an experienced attorney.
Contact Peck Ritchey, LLC Today
If you are the administrator of an estate, trust, or guardianship, Peck Ritchey, LLC can help. Contact us at (855) 328-5787 or via our online contact form to discuss your administration requirements in a free, confidential consultation with one of our Naperville lawyers. We can help you understand what to expect in the administration process so you can feel confident about your role.